DGAP-News: S.A.G. Solarstrom AG issues 7.5% corporate bond to finance further growth
(firmenpresse) - DGAP-News: S.A.G. Solarstrom AG / Key word(s): Bond
S.A.G. Solarstrom AG issues 7.5% corporate bond to finance further
growth
27.06.2011 / 08:12
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S.A.G. Solarstrom AG issues 7.5% corporate bond to finance further growth
- Issuing volume of up to EUR25 million
- attractive interest rate of 7.5% p.a.; runtime 6 years
- Creditreform rating: investment grade (BBB+)
- start of subscription June 30, via Frankfurt Stock Exchange
- bond will be used to continue dynamic growth
Freiburg, June 27, 2011. S.A.G. Solarstrom AG, a manufacturer-independent
provider of services for all aspects of the construction and operation of
photovoltaic systems, is issuing a corporate bond with a volume of up to
EUR25 million. The 'Solarstrom-Wertpapier II' (Solar Power Security II;
German security identification number: A1K0K5, ISIN: DE000A1K0K53) is
endowed with a fixed interest rate of 7.5% p.a. and a term of 6 years. The
subscription period is expected to run from June 30 to July 7, 2011. With
the revenue, the Group plans to step up its profitable growth in the
construction of photovoltaic systems in Europe, to reduce project financing
costs and to continue expansion of its own power plant portfolio.
'This bond will enable investors to benefit not only from an extremely
attractive fixed interest rate, but also from the positive impact of the
accelerated energy turnaround', says Dr. Karl Kuhlmann, CEO of S.A.G.
Solarstrom AG. 'As a manufacturer-independent system integrator, we are
benefiting from the current price reductions in components for photovoltaic
systems. That's why we are very confident, even under the current market
conditions, that we will be able to continue our profitable growth course
of the last few years', explains Kuhlmann.
The issue of the Solar Power Security II will be accompanied by youmex
Invest AG, Frankfurt am Main, as lead manager. Private investors will be
able to subscribe to the bond through their house bank or their online
broker via the Frankfurt Stock Exchange. It is planned to include the
security in the Entry Standard for corporate bonds of the Deutsche Börse
AG. The S.A.G. Solarstrom AG share is listed in the Prime Standard, the
highest transparency level of the German Stock Exchange. Subscribers to the
bond will also benefit from this, as they will be able to find out about
S.A.G. Solarstrom AG's relevant key figures from the quarterly reports
very quickly.
Q1 2011: Sales more than doubled, EBIT more than tripled
The S.A.G. Group impressively underscored its growth targets with the
results of the first quarter of 2011. Sales more than doubled, at EUR78.9
million (Q1 of 2010: EUR31.3 million), and operating earnings (EBIT) more
than tripled at EUR5.1 million (Q1 of 2010: EUR1.6 million). The EBIT
margin rose from 5.1% in the previous year's period to 6.5%. The main
driver of this positive development was the business area Project Planning
and Plant Construction, with the 48 MWp major project in North Italy, which
was shown in the balance sheet on a pro rata basis according to
construction progress. The resources from the corporate bond issued last
year have already taken effect and made a significant contribution to the
considerable upturn in growth.
'We pressed ahead with internationalization very early on, which makes us
more independent from thesupport measures of certain countries', says Dr.
Karl Kuhlmann, CEO of S.A.G. Solarstrom AG. 'In addition, we profit from
the strong growth of our service business, with double-digit EBIT margins
and the continuous expansion of our own power plant portfolio, from less
than 6 to 25 MWp in the last three-and-a-half years. In this regard, we
want to continue to strategically expand the power plant portfolio, which
currently has a commercial value of a good EUR87 million, and to make
further investments in 2011. With the values that we have created in the
last few years in the company - in addition to the high-margin service
business and our own system portfolio, this increasingly also includes the
significant rise in our brand awareness - we have a very good starting
position in the photovoltaic market of the future'.
Solar energy will become a central component of the energy turnaround
In the last ten years, the photovoltaic market has grown more than all
other technologies involved in the generation of renewable energy. At the
end of 2010, the total amount of globally installed photovoltaic power was
around 40 gigawatt peak (GWp). By 2015, the capacity could increase to 200
GWp, according to current studies. Not least as a result of the nuclear
disaster in Japan, several countries worldwide are examining their energy
supply. In the long term, this will offer excellent market opportunities
for well-positioned manufacturers of photovoltaic systems.
With this in mind, the S.A.G. Group is anticipating further positive
business development in the future. For 2011, management has forecast sales
of between EUR260 and EUR280 million and an EBIT of between EUR16 and EUR18
million.
Basic Information on Corporate Bond
Issuing volume: Up to EUR25,000,000
Subscription period: 06/30/2011 to 07/07/2011
Runtime: 07/11/2011 to 07/10/2017 (6 years)
Interest coupon: 7.5% p.a.
Interest payment: Annually, on 07/10 of each year
Denomination: EUR1,000.00
German security ID no./ISIN: A1K0K5 / DE000A1K0K53
Type of security: Partial debenture holder
Redemption price: 100 %
Rating: BBB+ (Creditreform)
Stock exchange
listing: Frankfurt Stock Exchange/Entry Standard for
corporate bonds
Information hotline: 0800 / 8 80 11 35
Legally relevant base prospectus as well as the Supplement No. 1 download:
www.solarstromag.com
About S.A.G. Solarstrom AG
S.A.G. Solarstrom AG (German security identification number: 702 100, ISIN:
DE0007021008) of Freiburg i.Br., Germany, is a manufacturer-independent
provider of high-quality photovoltaic plants configured to customers'
individual needs. The Group constructs efficient plants of all sizes both
in Germany and abroad. S.A.G. Solarstrom AG also produces solar energy at
its own plants.
S.A.G. Solarstrom AG's service portfolio covers the entire life cycle of
photovoltaic plants, including forecast and energy services, yield reports,
and remote service and maintenance, as well as insurance and financing. The
Group thus offers a comprehensive value chain in photovoltaics, from yield
reports, planning, construction, operations, and monitoring to
optimization, repowering, and deconstruction.
Founded in 1998, S.A.G. Solarstrom AG is considered a pioneer in the solar
industry. Around 210 specialists work at the four locations in Germany and
the foreign subsidiaries.
S.A.G. Solarstrom AG is listed in the Prime Standard of the Frankfurt Stock
Exchange as well as according to the rules and standards M:access of the
Munich Stock Exchange.
Further information: www.solarstromag.com
S.A.G. Solarstrom AG
Sasbacher Straße 5
79111 Freiburg
Contact:
S.A.G. Solarstrom AG
Sasbacher Straße 5
79111 Freiburg
Germany
www.solarstromag.com
Public Relations / Investor Relations
Jutta Lorberg
phone: +49-(0)761-4770-311
e-mail: pr(at)solarstromag.com / ir(at)solarstromag.com
Public Relations
Fabian Lorenz
Tel.: +49-(0)151-40016085
E-Mail: fabian.lorenz(at)ir-on.com
End of Corporate News
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27.06.2011 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: S.A.G. Solarstrom AG
Sasbacher Str. 5
79111 Freiburg
Deutschland
Phone: + 49 761 4770 0
Fax: + 49 761 4770 555
E-mail: mail(at)solarstromag.com
Internet: www.solarstromag.com
ISIN: DE0007021008
WKN: 702100
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München
(m:access), Stuttgart
End of News DGAP News-Service
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129717 27.06.2011
Datum: 27.06.2011 - 08:12 Uhr
Sprache: Deutsch
News-ID 34465
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